Analysis for July 11th, 2014
AUD USD, “Australian Dollar vs US Dollar”
Price’s first attempt to break daily Super Trend downwards failed; however, bears may try to do it again during Friday. If they succeed, pair may reach the 0/8 level quite soon.
As we can see at H1 chart, price is moving between the 5/8 and 3/8 levels. If later pair breaks Super Trends and the 3/8 level downwards, price will continue falling down towards its next target at the 0/8 one.
EUR GBP, “Euro vs Great Britain Pound”
Price rebounded from daily Super Trends and the 1/8 level, which means that market may soon break the 0/8 one and enter “oversold zone”. In this case, next target will be at the -2/8 level.
As we can see at H1 chart, Super Trends may form “bearish cross” very soon. In the near term, bears are expected to enter “oversold zone” and break the -2/8 level. In this case, lines at the chart will be redrawn.
XAG USD, “Silver vs US Dollar”
Silver finally stopped consolidating and reached new high. Price’s first attempt to break the 7/8 level failed, that’s why I closed one of my buy orders with profit. I’m still holding my second buy order with stop loss in breakeven, in case instrument continues moving towards the 8/8 level.
As we can see at H1 chart, Silver is moving inside “overbought zone”. In addition to that, price is supported by Super Trend and the 7/8 level, which means that it may start growing up again. In this case, in the nearest future instrument may break the +2/8 level and lines at the chart will be redrawn.
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